McGrath RentCorp (NASDAQ:MGRC) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

Several other equities research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of McGrath RentCorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 4th. BidaskClub upgraded shares of McGrath RentCorp from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. Finally, Oppenheimer reiterated a “hold” rating on shares of McGrath RentCorp in a research note on Wednesday, November 1st.

McGrath RentCorp (NASDAQ:MGRC) opened at $46.95 on Friday. McGrath RentCorp has a one year low of $32.09 and a one year high of $49.66. The firm has a market cap of $1,128.30, a price-to-earnings ratio of 24.71, a P/E/G ratio of 2.30 and a beta of 1.02.

McGrath RentCorp (NASDAQ:MGRC) last released its quarterly earnings results on Tuesday, October 31st. The financial services provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.12. McGrath RentCorp had a net margin of 10.32% and a return on equity of 11.44%. The firm had revenue of $135.39 million during the quarter, compared to analysts’ expectations of $124.90 million. During the same period in the previous year, the company earned $0.54 EPS. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. analysts forecast that McGrath RentCorp will post 2.04 earnings per share for the current year.

In other McGrath RentCorp news, Director Dennis P. Stradford sold 3,900 shares of the stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $49.41, for a total transaction of $192,699.00. Following the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at $247,050. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director William J. Dawson sold 4,000 shares of the stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $47.83, for a total transaction of $191,320.00. Following the completion of the sale, the director now owns 15,543 shares of the company’s stock, valued at $743,421.69. The disclosure for this sale can be found here. Insiders sold 17,602 shares of company stock worth $805,142 in the last quarter. Company insiders own 4.60% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of McGrath RentCorp by 17.0% during the first quarter. Vanguard Group Inc. now owns 2,093,570 shares of the financial services provider’s stock valued at $70,282,000 after acquiring an additional 304,573 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of McGrath RentCorp by 2.0% during the third quarter. Dimensional Fund Advisors LP now owns 1,781,300 shares of the financial services provider’s stock valued at $77,932,000 after acquiring an additional 35,195 shares during the last quarter. Deprince Race & Zollo Inc. increased its position in shares of McGrath RentCorp by 4.2% during the second quarter. Deprince Race & Zollo Inc. now owns 1,119,041 shares of the financial services provider’s stock valued at $38,752,000 after acquiring an additional 45,353 shares during the last quarter. State Street Corp increased its position in shares of McGrath RentCorp by 4.7% during the second quarter. State Street Corp now owns 541,096 shares of the financial services provider’s stock valued at $18,737,000 after acquiring an additional 24,511 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of McGrath RentCorp by 8.9% in the second quarter. Northern Trust Corp now owns 511,116 shares of the financial services provider’s stock valued at $17,701,000 after purchasing an additional 41,984 shares during the period. Institutional investors and hedge funds own 82.62% of the company’s stock.

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McGrath RentCorp Company Profile

McGrath RentCorp is a diversified business-to-business rental company. The Company operates through four business segments: modular building and portable storage segment (Mobile Modular); electronic test equipment segment (TRS-RenTelco); a subsidiary providing containment solutions for the storage of hazardous and non-hazardous liquids and solids segment (Adler Tanks), and a subsidiary classroom manufacturing business selling modular buildings used primarily as classrooms in California (Enviroplex).

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